Richard Silver

Toronto Real Estate Board Releases Affordability Charts

Prices have risen in the Greater Toronto Area, however the cost of home ownership has dropped. This recent chart from the Toronto Real Estate Board shows how increased incomes and historically low interest rates have made home ownership more affordable. I think this bodes well for the Canadian economy: Renters who become Owners renovate, buy new furniture and appliances, adding related spending and stimulating the economy. Related Posts: Canadian Real Estate: Lack of Inventory Puts Upward Pressure on Pricing. Canadian Real Estate Association Releases New...Continue Reading...

Canadian Real Estate: Lack of Inventory Puts Upward Pressure on Pricing.

Here are some important statistics that were made available by the Canadian Real Estate Association that highlight housing inventory for sale in Canada, Ontario and within the Toronto Real Estate Board. These figures point to a distinct lack of inventory at present in all areas but especially in the Greater Toronto Area. It makes it a great time for Sellers to sell but conversely difficult for Buyers to find property. Hopefully this will loosen up over the next few months but...Continue Reading...

Canadian Real Estate Association Releases New Update

Here is the latest market report from the Canadian Real Estate Association. Take a look at the highlighted portion below as it points to a striking lack of inventory for Purchasers...but means it is a great time for Sellers to put their homes on the market. From my understanding, in a "Normal" market the inventory is about six months. OTTAWA – October 15th, 2009 – National resale housing activity climbed to the highest level of any third quarter on record. Actual (not...Continue Reading...

TORONTO REALTORS® REPORTING SEPTEMBER RESALE MARKET FIGURES

TORONTO, October 5, 2009 - In September 2009, Greater Toronto REALTORS® reported 8,196 sales, up 28 per cent from September 2008. The average price for Septembertransactions was $406,877 – up by 10 per cent compared to the same month last year. "We have experienced an increasing rate of existing home price growth in the GTA as sales have continued to outpace 2008 results," said TREB President Tom Lebour. "Consumers have remained confident in ownership housing as a long-term investment." Year-to-date sales, at...Continue Reading...

What Kind of Mayor Does Toronto Need Now?

With David Miller deciding not to run in the upcoming Toronto Mayoralty race, it begs the question "What kind of Mayor does Toronto need now?"  Mayor Miller has left us with a wonderful City in decline... If you, like me, are wondering why it took a 5 week summer Strike to end up with a City Workers contract that could have probably been negotiated without a Strike, I would tell you that it is symptomatic of what is wrong with Mayor...Continue Reading...

Real Estate: Downsizing with Style and Grace: Part Two

Thanks for the great response and ideas from the first post on Downsizing...before I add some more thoughts, let's talk about some of the issues generated after Post One: There seems to be a universal response to the negative naming of the difficult process: Downsizing. However, I remembered with some friendly prodding that Barry Lebow, Founder of  The Accredited Senior Agent Designation refers to it as "Rightsizing", a term defined as "to undergo a reduction to an optimal size". I like referring...Continue Reading...

Toronto Real Estate Board Releases Canadian Consumer Price Index August 2009

Click on the Full Screen Button at the bottom of this slide to View. Then press ESC or escape when finished. Canadian Consumer Price Index August2009View more documents from Richard Silver.Continue Reading...

Toronto Real Estate Board Releases August Sales Figures

GTA REALTORS® Report August Resale Market Figures TORONTO, September 2, 2009 - In August 2009, Greater Toronto REALTORS® reported 8,035 sales, up 27% per cent from August 2008. The average price for August transactions was $387,921 – up by six per cent compared to the same month last year. "The increase in demand for existing homes has been widespread across different housing types and price ranges," said TREB President Tom Lebour. "This suggests many categories of home buyers have chosen to make...Continue Reading...

Greater Toronto Area REALTORS® Report August Mid-Month Resale Market Figures

TORONTO, August 18, 2009 - In the first two weeks of August, Greater Toronto REALTORS® reported 3,832 sales – up 27 per cent compared to the first two weeks of August 2008. The average price for these transactions was up three per cent year-over-year to $383,796. "The results for the first half of August indicate that many households in the GTA remain confident in their ability to purchase and pay for a home over the long term," said TREB President Tom...Continue Reading...

Bank of Canada Cuts Interest Rates! January 2009!

Below is a press release from the Canadian Real Estate Association about the Bank of Canada cutting rates.  Bank of Canada cuts interest rates again in January Published January 20, 2009 As widely expected, the Bank of Canada lowered its benchmark overnight lending rate by a half of a percentage point to one per cent at its setting on January 20th, 2009. The trend-setting Bank rate, which is set 0.25 percentage points above the overnight lending rate, declined to 1.25 per cent. The Bank acknowledged...Continue Reading...